W Ltd. issued 2,000, 14% Debentures of Rs.100 each at discount of 5% the
discount being adjustable on allotment. The debentures were payable as follows:
On Application |
Rs.25 |
|
On Allotment |
Rs.20 |
|
On First and Final Call |
Rs.50 |
The debentures were fully subscribed and the moneys were duly received.
Show the cash book and journal entries and prepare the balance sheet of the company.